From HW Magazine
Out of the shadows: How fintech is infiltrating the mortgage industry
And what traditional lenders should be doing to adapt
A study released in the National Bureau of Economic Research maintains that nonbanks, such as Quicken and loanDepot, essentially tripled market share for mortgage lending between 2007 to 2015. You read that right: tripled market share in less than 10 years. How is such a high level of disruption possible? Read on.